The Yellow Ribbon Program
What is it?
Under the Yellow Ribbon Program, the federal government matches, dollar for dollar, any financial aid that participating colleges pledge to provide student veterans above the base educational benefits in the new GI Bill. Note that through the new GI Bill (administered through the Department of Veteran’s Affairs), all qualifying veterans receive an amount equal to the cost of attending an in-state, public four-year college. The Yellow Ribbon Program can help veterans pay the extra cost of attending out-of-state public colleges, private institutions, and graduate programs.
What are the Details?
* Participating colleges can limit the aid they offer.
* You may be interested in the Yellow Ribbon FAQ Sheet
* An updated chart on the U.S. Department of Veterans Affairs’ Web site indicates that the department has reached more than 2,500 agreements with colleges nationwide under its new Yellow Ribbon Program, but that number represents some institutions entered into multiple agreements with the department.
Who is Critical of this Program and Why?
Some argue against the so-called “First Come-First Served” nature of the program. In particular, a student veterans group criticize they way some participating colleges plan to distribute program benefits. A number of colleges have committed to providing the added benefits to only a portion of their student-veteran populations; the law allows institutions to limit the aid they offer under the program to any number of students and any portion of those students’ costs.
What is the Post-911 GI Bill?
The Post-9/11 GI Bill is for individuals with at least 90 days of aggregate service on or after September 11, 2001, or individuals discharged with a service-connected disability after 30 days. You must have received an honorable discharge to be eligible for the Post-9/11 GI Bill. The Post-9/11 GI Bill will become effective for training on or after August 1, 2009. This program will pay eligible individuals:
- tuition & fees directly to the school not to exceed the maximum in-state tuition & fees at a public Institution of Higher Learning. a monthly housing allowance based on the Basic Allowance for Housing for an E-5 with dependents at the location of the school
- a one-time rural benefit payment for eligible individuals
Where Can I Go for More Information and Resources?
Department of Veteran’s Affairs – Yellow Ribbon Program
Department of Veteran’s Affairs – The Post/911 GI Bill
How Many Have Already Applied?
Since the Department of Veterans Affairs began accepted applications for Post-9/11 GI Bill educational benefits on May 1, about 87,000 veterans have submitted applications, and the department has processed 51,000 of those, said Keith M. Wilson, the department’s education-service director.
Could some be better off under the old GI Bill?
Yes. In a recent Chronicle of Higher Education article, featured student Steven Neshkoff, a rising sophomore at Ferris State University, said he would save $8,000 by remaining under the old GI Bill for another two years, instead of claiming aid under the new bill. Once he exhausts those benefits, he would then qualify for a full year of educational benefits offered under the Post-9/11 GI Bill.
I’m currently taking a vacation from blogging, using the summer to revise and update my site. Stay tuned… Revisions to appear August 1, 2009.